*The Critical Illness benefit is an accelerated benefit and the death benefit will be reduced by the Critical Illness cover paid to the policyholder. To know more about the illnesses covered, please refer the sales brochure.
**Available only under Life Plus and All in One option. Maximum amount that can be availed is 2 Crore and will be paid as a lump sum.

*The Critical Illness benefit is an accelerated benefit and the death benefit will be reduced by the Critical Illness cover paid to the policyholder. To know more about the illnesses covered, please refer the sales brochure

SIP is a financial planning tool available for policy holder’s to create wealth and achieve their long term financial goals by contributing a fixed amount in a selected fund(s) at regular intervals, which could be either monthly, quarterly or yearly. The key benefits of SIP to policy holders are rupee cost averaging and also it inculcates disciplined approach towards financial savings rather than ad hoc investment decisions.

Term
Insurance Plans

Term Insurance Plans

What are Term Insurance Plans?

Term Insurance or Pure Protection Plans are the most basic form of life insurance plans. They enable you to secure your family financially, by offering a high life insurance cover amount for a relatively low premium payment. You can pay these premiums regularly, or at one go, depending on the life insurance policy you choose.

These insurance plans let you keep your family secure and financially independent, in your absence. If you are the Life Assured, you pay a specific premium amount at fixed intervals during your policy. In the eventuality of death during the policy tenure, your family gets a pre-decided amount, called ‘Sum Assured’ as per the provisions of your protection plan.

Explore Our Term Insurance Plans

Take a look at the Term Insurance plans that we offer:

Term plan with a range of options that you can select as per your budget.

It fits into a tight budget

Get claim payout on first diagnosis of 34 critical illnesses (optional)*

*The critical illness benefit is an accelerated benefit and the death benefit will be reduced by the critical illness cover paid to the policyholder. To know more about the illnesses covered, please refer to the product brochure. **The maximum accidental death benefit available is `2 Crore. ^Tax benefits under the policy are subject to conditions under Sec. 80C, 80D and Sec 10(10D) of the Income Tax Act, 1961. Applicable taxes will be charged extra as per prevailing rates. Tax laws are subject to amendments from time to time.

A protection plan that covers your loved ones and ensures that nothing ever comes in the way of their dreams.

6 Reasons to buy a Term Insurance Plan

High Life Insurance Amount:

Term insurance plans provide a high life insurance amount. For example, if your annual income is
10 lakh, then you can take a Life Cover of up to
1 crore.

Affordable Premiums:

With Term Insurance plans, a large amount of Life Cover comes at a small premium. For instance, you can get a Life Cover of
1 crore at a premium of just
17 per day^.

Tax Benefits:

Term Insurance plans offer tax benefits** on premiums paid up to
1.5 lakh under Section 80C. New-age Term plans with critical illness cover also offer additional tax benefits on premiums paid up to
25,000 under Section 80D. You also get tax benefits** under Section 10(10D) on the money that your family receives in case of an unfortunate event.

Cover Against Critical Illnesses:

Besides protecting your family in your absence, new-age Term Insurance plans like iProtect Smart also provide cover against critical illnesses. By paying a small amount of additional premium, you can get a lump sum pay-out on first diagnosis of a critical illness like heart attack, cancer, kidney failure, etc.

Support In Case Of Disability:

In new-age Term Insurance plans such as iProtect Smart, the insurance company pays your future premiums in case of total and permanent disability*. This ensures that the protection of the Life Cover continues, even when you are unable to pay the premiums.

Additional Security:

To increase the security of your family, a Term Insurance Plan provides double pay-out (up to
2 crore) in case of an accidental death. For example, if your Life Cover is
1 crore, a Term Insurance plan with Accident Cover pays
2 crore to your family in case of an accidental death.*

How much Life Cover do I need?

You can get a simple, quick and clear answer to this question by calculating your Human Life Value or HLV. HLV is an easy-to-use numeric method of calculating the amount of Life Cover that you may need.
The basic thumb rule that can be used to find out your HLV is as follows:

Age In Years

Income multiple

18-35

25 times of your annual income

36-45

20 times of your annual income

46-50

15 times of your annual income

51-60

10 times of your annual income

For example, if a 32 year old man has an annual income of 5 lakh, the ideal Life Cover for him would be 25 x 5 lakh = 1.25 crore.

*Please refer the product brochure to know more information regarding the illnesses covered, Accident Cover, and Total and Permanent Disability.** Tax benefits are subject to conditions u/s 80C, 80CCC, 10(10A), 10(10D) and other provisions of the Income Tax Act, 1961. Applicable taxes will be charged extra as per prevailing rates. Tax laws are subject to amendments from time to time. Tax benefits under the policy are subject to conditions under Section 80C, 10(10D) and other provisions of the Income Tax Act, 1961. Applicable taxes will be charged extra as per prevailing rates. Tax laws are subject to amendments from time to time.^ The above mentioned illustration is for ICICI Pru iProtect Smart for the Life Income Payout option. The premium of 17 per day is for a 25 year old healthy non-smoker male, availing a policy with a 15 year term. The annual premium would be 6078 excluding taxes.

Human Life Value Calculator

Calculate how much your life insurance cover should be, to keep you and your family secure